citibank giving 4% cash back on all purchases | Australian Frequent Flyer
Australian Frequent Flyer

Welcome to Australia's leading independent Frequent Flyer and Travel Resource since 1998!
Our site contains tons of information that will improve your travel experience.

Joining AFF is fast, simple & absolutely free - register now and take immediate advantage of these great BENEFITS.

Once registered, this box will disappear. And you will see fewer advertisements :)

citibank giving 4% cash back on all purchases

Status
Not open for further replies.
G

Guest

the FOLLOWING month as long as you spend $6k+/mo... :?

CASH BACK VS QF POINTS

$10k/month spend = $400/month cash back @ 4%
$400 cash is much much better value than 10,000 QF points!

Not a bad second card IMO
 

oz_mark

AFF Supporter
Joined
Jun 30, 2002
Messages
17,679
Flights
My Map
d00t said:
the FOLLOWING month as long as you spend $6k+/mo... :?

CASH BACK VS QF POINTS

$10k/month spend = $400/month cash back @ 4%
$400 cash is much much better value than 10,000 QF points!

Not a bad second card IMO

Couple of things:

1) Cashbacks are capped at $1500 per year
2) What do they mean by the opening balance (less payments and credits)?

Its the 'less payments and credits' bit - I am not sure what the effect of this would be. If my opening balance was $6000, you could be pretty certain that I would be making payments of $6000? So, do you only get a cashback if you are paying interest, or what?
 
G

Guest

oz_mark said:
Couple of things:

1) Cashbacks are capped at $1500 per year
2) What do they mean by the opening balance (less payments and credits)?

Its the 'less payments and credits' bit - I am not sure what the effect of this would be. If my opening balance was $6000, you could be pretty certain that I would be making payments of $6000? So, do you only get a cashback if you are paying interest, or what?
One would think it's based on new SPEND each month and not existing balances. Otherwise... you would be getting cash back and paying interest? :?:
 

oz_mark

AFF Supporter
Joined
Jun 30, 2002
Messages
17,679
Flights
My Map
See the page http://www.citibank.com.au/portal/citiwm_home_center.jsp?frameset=centerFrameset&productID=CreditCards&path=/augcb/english/prod/det/cards_cashback.htm&frameval1=wowWorkID&framevar1=workID


Citibank Cash Back®

Every time you make a purchase or pay a bill with your new Citibank Cash Back® Card, you get Cash Back^. Your Cash Back rate is determined by the opening balance on your monthly statement, less credits and payments. This rate is then multiplied by your spend (statement's total purchases and bill payments) to calculate your monthly Cash Back amount.
 

New Chump

Member
Joined
Nov 23, 2004
Messages
111
One would think it's based on new SPEND each month and not existing balances. Otherwise... you would be getting cash back and paying interest?
I think that is partly right. To qualify for the cash back in any month, you need to have an opening debit balance, then you deduct this month's repayments from the opening balance to determine the applicable cash back % (ranging from 0.5% to 4%), which is then multipled by this month's new spend.

If you pay off the opening balance in full by the due date during the month, no cash back for you. (Why? Because zero x 4% x new spend = zero).

If you did not pay off the opening balance in full by the due date during the month, you will qualify for the cash back but you will be paying interest on your card.

So it seems to me that this card would not benefit a transactor who pays their card off in full each month , but (all other things (like interest rates) being equal) may suit a revolver who doesn't pay their card off in full each month.
 

netaddict

Member
Joined
Mar 14, 2004
Messages
166
This card has $69 annual fee plus $19 per additional card issued. Noticed some small print on Citibank's web site also that no cash back is credited until it totals greater then $25.
 

kiti

Newbie
Joined
Mar 3, 2006
Messages
4
New Chump, if you paid your CB CashBack card each month in full (e.g. opening bal less pmts = Zero) then you would get a minimum of 0.5% cashbk on your new purchases for that month (not zero).

The best way to get you cashback amount up is to BT more than $6K @ 5.9%, thus you then qual for 4% cashback on any new purchases, provided you are not paying the card in full each month (e.g. your opening bal less pmts remains above $6K).
 
Status
Not open for further replies.

AFF on Air Podcast

  • jb747’s Stellar Career with Qantas – AIR013
    Sat, 15 Jun 2019 03:00:41 AEST
      In this special edition of the podcast, Matt chats to John Bartels (a.k.a. jb747) about his flying career with Qantas, the A380, the QF30 incident, flight training, retirem ...
  • Cheap Virgin Australia Business Class – AIR012
    Sat, 01 Jun 2019 03:05:28 AEST
      Find out how to get cut-price Virgin Australia Business Class tickets by buying and redeeming Etihad Guest miles! This episode also includes some listener Q&A and an interv ...
  • Star Alliance Status – AIR011
    Sat, 18 May 2019 09:39:41 AEST
      Find out how to easily earn Star Alliance Gold status with several different frequent flyer programs! This episode also includes an interview with John Blom, Australia’s ...
  • Premium Economy – AIR010
    Sat, 04 May 2019 00:21:32 AEST
      Premium Economy is a great compromise if you want a more comfortable experience than Economy, without paying for Business or First class airfares! In this episode, AFF’s ...
  • Hyperinflation of Points – AIR009
    Sat, 20 Apr 2019 04:49:59 AEST
      Frequent flyer points are a valuable currency, but they aren’t immune from hyperinflation! In this episode, Matt discusses why frequent flyer points are a terrible long-t ...

Community Statistics

Threads
81,621
Messages
1,884,927
Members
49,503
Latest member
Borgbear
Top